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Sponsorship includes a significant contribution to expand efforts in
recruiting the next generation skilled trades workforce for Canada's
growing oil and gas industry

OTTAWA, Jan. 17, 2012 /CNW/ - Skills/Compétences Canada, a not-for-profit organization that actively promotes careers in
skilled trades and technologies, today announced that it has signed
Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) as Presenting Sponsor of the
2012 Skills Canada National Competition to be held in Edmonton in May.
This sponsorship compliments Cenovus's "Skills Champion" sponsorship
with Skills Canada Alberta and recognizes the importance of developing
Canada's skilled trades workforce to meet evolving industry needs.

Industries that depend on skilled trade workers are key drivers of the
Canadian economy and contribute more than 50% of Canada's GDP - or
about $550 billion. According to the Petroleum Human Resources Council
of Canada, the oil and gas sector faces a skilled labour shortfall
estimated at 130,300 positions by 2020. The Council forecasts that
Canada's unemployment rate is projected to drop to 6% by 2013 and to
below 5% by 2020, creating significant competition - and opportunity -
for skilled trade workers.1

In creating a coordinated approach to filling the skilled trades gap in
Canada, Skills Canada offers programs annually to bring the skilled trades into the spotlight
and entice young people to consider these professions as first choice
career options. This sponsorship will provide more resources and tools
that will enhance the event experience for the thousands of young
spectators that will visit the Skills Canada National Competition.

"The success of our programs is closely tied to support from industry
partners like Cenovus, which understand that Canada is facing a
critical shift in supply and demand for skilled trade workers," says
Shaun Thorson, CEO of Skills Canada. "We look forward to working with
Cenovus in our efforts to educate and provide young people with
valuable career skills that will help serve the needs of industry for
generations to come."

The 2012 Skills Canada National Competition takes place May 13-16, 2012
in Edmonton, Alberta. The event brings more than 500 competitors
representing over 40 trades from all provinces and territories to
compete in Canada's only national, Olympic-style, multi-trade and
technology event of its kind for young skilled trade and technology
students and apprentices.

"We realize the important contribution skilled trade and technology
workers make to our industry," says John Brannan, Cenovus Executive
Vice-President & Chief Operating Officer. "That is one of the reasons
we are pleased to be the presenting sponsor of the National Skills
Competition. This event will provide an excellent stage to promote
trade and technology careers as a viable and rewarding career option
for young people today."

The Competition provides an opportunity for students to be tested not
only against industry standards, but against their peers from across
the nation in their chosen discipline. The event attracts school groups
and young career-seekers who can take part in interactive Try-a-Trade®
demonstrations, as well as employers and recruiters, industry
associations, labour groups, training institutes and government
partners. For more information, visit the Skills Canada National
Competition Website at www.skillscanada.com.

About Cenovus Energy
Cenovus Energy Inc. is a Canadian integrated oil company. It is
committed to applying fresh, progressive thinking to safely and
responsibly unlock energy resources the world needs. Operations include
oil sands projects in northern Alberta, which use specialized methods
to drill and pump the oil to the surface, and established natural gas
and oil production in Alberta and Saskatchewan. The company also has
50% ownership in two U.S. refineries. For more information, visit www.cenovus.com.

About Skills/Compétences Canada
Skills/Compétences Canada was founded in 1989 as a national,
not-for-profit organization that works with employers, educators,
labour groups and governments to promote skilled trades and technology
careers among Canadian youth. Its unique position among private and
public sector partners enables it to work toward securing Canada's
future skilled labour needs while helping young people discover
rewarding careers. Skills/Compétences Canada offers experiential
learning opportunities including skilled trades and technology
competitions for hundreds of thousands of young Canadians through
regional, provincial/territorial, national and international events, as
well as skilled trades awareness programs. Headquartered in Ottawa,
Ontario, Skills/Compétences Canada is the Canadian Member organization
of WorldSkills International. For more information about
Skills/Compétences Canada visit www.skillscanada.com or call 877-754-5226.